Wen Xinxiang of the people's Bank of China: virtual currency has anonymity and is easier to become a money laundering tool for illegal activities
Wen Xinxiang, director of the payment and Settlement Department of the people's Bank of China, said at the China payment and clearing forum today that in recent years, the rapid development of virtual currency represented by bitcoin has attracted extensive attention from regulatory authorities of various countries. So far, the total market value of bitcoin has reached US $800 billion, and the overall market value of stable coin has exceeded US $120 billion. Wen Xinxiang said that using virtual currency to transfer illegal funds across borders is a typical scenario.
This text is a result of machine translation.
Briefing Oct 27, 2023 08:24 AM
· Consumer Staples
Anjoy Foods Q3 Net Profit Totaled CNY 386 million, with an Impressive YoY Increase of 63.75%
Briefing Sep 23, 2023 01:43 AM
· Consumer Staples
China's Outbound Non-financial Direct Investment Increased 18.8% YoY
Briefing Jun 28, 2022 04:44 PM
· Technology
Shaoneng Co., Ltd.: proposed to jointly contribute to the establishment of a new energy business project company with Dashun company
Apr 26, 2022 12:26 PM
Apr 21, 2022 07:07 PM
Jun 29, 2021 11:48 PM
May 03, 2021 09:18 AM
Briefing Jun 28, 2022 03:24 PM
· Technology
Wang Han of Industrial Securities: the trend is that the funds further flow into a shares after sunrise in the East and rain in the West
Consumer Staples
PingPong Among First Asian Payment Firms to Support Wero Transactions
Global payment platform PingPong recently announced it will be among the first Asian payment companies to support business use of Wero. In October this year, Wero will launch its To B payment service. After launch, businesses will be able to access this unified European digital payment service via PingPong, reaching 250 million European users.
Aug 07, 2025 04:08 PM
Briefing Jun 28, 2022 02:25 PM
· Consumer Staples
The spot quotation of RMB against the US dollar rose by more than 100 points in the afternoon.
The 4th China-Africa Economic and Trade Expo Kicks Off Today in Changsha, China
Jun 12, 2025 11:51 AM
Briefing Jun 28, 2022 02:04 PM
· Healthcare
The first self-developed intrusive brain computer interface in China completed animal experiment
Briefing Jun 28, 2022 01:54 PM
Suspension of large amount subscription of Jingshun great wall reform opportunity hybrid fund
Briefing Jun 28, 2022 01:20 PM
· Automotive
Oppo and vivo's online small loan companies have increased their capital to 5billion, and the initial plan to issue 3billion ABS has received feedback
See more
Read next
Insight
In-depth
Embodied AI · Analysis
The Real Bottleneck in Embodied AI: Not Just AI, but Scenarios
Updated 1 hour ago
Insight
In-depth
Embodied AI · Analysis
Investment Is Booming, Orders Are Rising, but Robots Are Still Learning How to Deliver
Mar 23, 2026 10:29 AM
Insight
In-depth
Automotive · Analysis
Thinking of ASEAN as a single market is the biggest miscalculation for Chinese companies
Feb 19, 2026 12:00 PM
Insight
In-depth